News – The Diamond Certification Laboratory of Australia (DCLA)

Bank of Namibia’s Warning on US Diamond Tariffs

Benguela Gem, one of Debmarine's diamond vessels

Namibia’s diamond industry may be pushed into deeper crisis if United States (US) president Donald Trump pushes ahead with implementing an export tariff of 21% on Namibia.

The governor of the Bank of Namibia has warned that US tariffs on diamonds – which account for 29 per cent of the country’s exports – could push the country into a deeper crisis.

It is already suffering the worst drought in over a century, compounded by the slump in diamond demand and other economic hardships, spiralling unemployment and a malaria outbreak.

“The diamond is already going through a difficult time because of low demand, and competition from lab-grown diamonds, and now you have all these tariffs,” said governor Johannes !Gawaxab*.

Namibia currently enjoys duty-free exports to the US on diamonds and most other products, but President Donald Trump announced a 21 per cent export tariff for the country in his 2 April “Liberation Day” speech.

He subsequently said there would be a 90-day pause before reciprocal tariffs on a whole list of countries were implemented.

Namibia is world’s eighth biggest diamond producer by carat, and the sixth by value, primarily from marine diamonds. Last year 12.4 per cent of its polished diamonds were sold to the US.

*The exclamation mark represents a click sound in Khoekhoegowab, an official language of Namibia.

Source: IDEX

US Jewelry Sector Shrinks Again in Q1

The decline in the US jewelry sector continues, with yet another drop in the number of retail, wholesale and manufacturing businesses.

The total number fell by 3.4 per cent – just under 800 businesses – to 22,330 year-on-year, according to the latest update from the Jewelers Board of Trade (JBT), which provides commercial credit information. The figures take account of both closures and new business openings.

The figure for the previous quarter, Q4 2024, was -3.2 per cent, and for Q3 2024 it was -3.3 per cent, indicating a steady rate of decline.

The biggest fall in Q1 2025 was among jewelry manufacturers, down 4.6 per cent to 2,119. The number of retailers fell 3.5 per cent, down to 16,959 and the number of wholesalers fell 2.5 per cent to 3,252.

JBT reported the opening of 68 new retail jewelers in the US during Q1.

Source: IDEX

Signs of Stabilization: “Mild Decline” for Fancy Color Prices

Prices of fancy color diamonds slipped by “only 0.3 per cent” in the first quarter of this year, according to the Fancy Color Research Foundation (FCRF).

Concerns over the impact of US tariffs were counter-balanced, to some extent, by what it called “signs of market stabilization”.

In Q4 of 2024 the Fancy Color Diamond Index fell by 1.1 per cent, and in the full year 2024 prices suffered their biggest annual fall since FRCF launched the Index in 2014.

In its quarterly update the FCRF noted that despite anxieties about Trump’s proposed tariffs (currently on hold for 90 days) they may actually create a shortage of color diamonds in the US market, which could serve to drive prices up.

“While the headline number shows a mild quarterly decline, the underlying data tells a more optimistic story: certain categories have stabilized, and volatility across others has significantly slowed,” the FCRF said.

“Which may set the stage for a potential rebound in select categories throughout upcoming quarters.

The FCRF also said that GIA’s decision to halt overseas submissions to its US labs, following the tariff announcement, means fancy color stones are being graded in Hong King instead, which is slowing the supply chain.

Yellow fancy color diamonds (all sizes and intensity) suffered the biggest losses in Q1 2025, down by 0.7 per cent (following on from a 2.2 per cent drop the previous quarter). Blues were down 0.5 per cent and pinks just 0.1 per cent.

Roy Safit, CEO of the New York-based FCRF, said: “While global trade anxieties – particularly around renewed US tariff proposals – have undoubtedly created caution across luxury sectors, the fancy color diamond market remained impressively composed.

“In fact, given the sharp rhetoric around import duties and reshoring, many expected a more dramatic correction. Instead, the data shows a contained, strategic repositioning. It speaks to the market’s growing maturity and the defensive appeal of vivid color diamonds.”

Source: IDEX

One of the World’s Rarest Red Diamonds Goes on Display

The Winston Red, an extraordinary and exceptionally rare diamond, is now on show to the public — making it the only known pure red diamond of its kind currently on display anywhere in the world.

Weighing 2.33 carats, it holds the distinction of being the fifth-largest pure red diamond known to exist. To put that into perspective, fewer than two dozen red diamonds over one carat have ever been recorded, making this a truly exceptional stone.

It’s now on exhibit at the Smithsonian National Museum of Natural History in Washington, D.C., as part of a special showcase of natural coloured diamonds.

A team from the Gemological Institute of America (GIA), working alongside experts from the Smithsonian’s Department of Mineral Sciences and the Paris School of Mines, have conducted an in-depth examination of the gem.

GIA’s president and CEO, Susan Jacques, called the Winston Red “one of the most exquisite gems on Earth,” noting its intense deep-red colour and fascinating history. Red diamonds are incredibly rare, and among the more than one million coloured diamonds studied by GIA, a mere 0.07% were red — and just over half of those qualified for the elite ‘Fancy red’ grade awarded to the Winston Red.

Through advanced research, GIA scientists have identified the diamond’s colour origin and believe it likely came from either Brazil or Venezuela.

Tom Moses, GIA’s executive VP and head of research, shared his personal connection to the stone, having first examined it back in 1987. He recalled its striking deep red hue and historical significance — a diamond once sold by Jacques Cartier in 1938 to the Maharaja of Nawanagar.

The Winston Red is now the star attraction in a new exhibition at the Smithsonian, which features 40 other rare coloured diamonds from the Winston Fancy Color Diamond Collection. The collection was donated by Ronald Winston, son of legendary jeweller Harry Winston.

This exhibition is a rare opportunity to witness one of nature’s most elusive and captivating treasures — a true celebration of colour, history, and craftsmanship.

Ousted Masisi Claims De Beer Funded Botswana’s Opposition

Botswana’s former president Mokgweetsi Masisi has accused De Beers of funding the party that ousted him from power last November – because he was taking too tough a stance on the critical 10-year diamond deal.

He claims the mining company actively supported the Umbrella for Democratic Change (UDC) which ended 58 years of uninterrupted rule by the Botswana Democratic Party (BDP).

Masisi (pictured) also claims De Beers tried to influence internal politics within the BDP to appoint a more favourable leader and that it deliberately stalled on the signing of a full diamond sales agreement because of tax disputes.

De Beers and the Botswana government agreed the principles of a sales agreement, mining licenses and a package of measures to boost the country’s economy under Masisi, but the deal remained unsigned during his tenure.

It was finally inked three months after he was replaced as president by Duma Boko.

De Beers and the UDC have categorically rejected Masisi’s claims. De Beers said: “We do not provide financial or other support for political purposes to any politician, political party or related organisation, or to any official of a political party or candidate for political office, in any circumstances, either directly or through third parties.”

A UDC spokesperson dismissed Masisi’s claims as outlandish, and challenged him to provide evidence.

Source: IDEX

JAR Collection set to Fetch $3m

A collection of 21 pieces by the celebrated jeweler JAR (Joel Arthur Rosenthal) is expected to sell for at least $3m at Christie’s Geneva.

It’s described as “one of the largest and most important private collections of works by the visionary designer”.

JAR is one of the most sought-after contemporary jewelers, known for his use of unconventional materials and techniques, and for drawing on flora and fauna as his inspiration.

His exclusive boutique, in Place Vendome, Paris, admits clients only by personal approval or recommendation and produces just 70 or 80 pieces a year.

The collection – A Bouquet of Gems: A Superb Collection Of Jewels By JAR – will be offered for sale at the Magnificent Jewels sale on 14 May.

They were acquired for a single private collector in the early 2000s and 2010s and none of them has previously appeared on the market or at auction.

Highlight of the sale is the 2009 sculptural diamond Apricot Blossom bracelet (pictured) with an estimate of $340,000 to $570,000.

A multi-gem chain necklace of round brown diamonds, emeralds, tourmalines, tsavorite spessartine garnets, peridots, purple, orange, pink sapphires and sapphires, topazes, fire opals, rubies, pink and purple spinels, amethysts, and aquamarines, has an estimate of $285,000 to $400,000.

And a 2006 ring, with a 6.36-carat cushion modified brilliant-cut diamond, and black diamonds, is offered with a $160,000 to $230,000 estimate.

Source: IDEX

Gemfields Blames Market Conditions for $100m Loss

Gemfields, the world’s largest colored gemstone miner has reported a $100.8m loss for 2024 – and announced a $30m a rights issue to help secure its future.

It suspended mining at its Kagem emerald mine in Zambia for up to six months last December. It was also forced to temporarily close its Montepuez ruby mine, in Mozambique due to civil unrest.

The UK-based miner made a comparatively small loss of $2.8m in 2023, but says market conditions in 2024 were “more challenging than we could have anticipated”.

In its latest trading update Gemfields blamed the oversupply of emeralds by a Zambian competitor, lower-than-expected production of premium rubies at Montepuez and a weak gemstone market, especially in China.

“While our planning of Gemfields’ growth programme did not envisage the requirement of additional funds from shareholders, the scope and scale of the difficulties we have encountered contemporaneously has unfortunately necessitated a change in approach,” said CEO Sean Gilbertson.

The company will be seeking shareholder approval for a fully committed and underwritten rights issue of 556m new shares to raise approximately $30m.

Total revenue for 2024 was $213m, down 19 per cent, due to disrupted market for emeralds in H2 2024 and lower production of premium rubies.

Gemfields said construction of a second ruby processing plant in Montepuez was on track. At Kagem the only produced are by processing the pre-mined stockpile.

Source: IDEX

India’s Polished Diamonds Export Down 17%

India’s polished exports fell by almost 17 per cent in the fiscal year ending March 2025, to $13.29bn, according to the Gem and Jewellery Export Promotion Council (GJEPC).

That’s among the lowest annual export figures for two decades, although not, as widely reported, the lowest of all. The GJEPC figure for 2005 was $12.3bn, up from $10.3bn in 2004. By comparison 2023/4 foreign sales totaled $15.97m.

Overall gem and jewellery exports fell 11.7 per cent in 2024/5 to $28.5bn, the lowest figure in four years.

But there are signs of a recovery, with polished diamond exports for March showing a year-on-year decline of just 0.76 per cent to $1.16bn and gems and jewelry actually growing 1 per cent to $2.58bn.

“The decline in gems and jewellery exports is mainly due to the continuous dip in demand in China as well as the US, India’s key export markets, due to the ongoing geopolitical tensions,” said GJEPC Chairman Kirit Bhansali.

“Also, the correction in rough diamond prices by 10-15 per cent impacted the value, causing the overall decline in exports.”

Source: IDEX

The Golconda Blue: The Largest Fancy Vivid Blue Diamond Ever Seen at Auction

Christie’s is preparing to showcase something truly extraordinary — The Golconda Blue, a 23.24 carat Fancy Vivid Blue diamond, set to headline the Magnificent Jewels auction in Geneva on 14 May. Held at the Four Seasons Hotel des Bergues, this remarkable stone carries an estimate of between $35 million and $50 million.

Mounted in a ring designed by the legendary JAR, The Golconda Blue is not only the largest Fancy Vivid Blue diamond ever offered at auction — it’s also one of the rarest and most historically significant diamonds in existence.

Its journey through history is as dazzling as the stone itself. Originally owned by Yeshwant Rao Holkar, the Maharaja of Indore — a prominent patron of art and fine jewellery in the 1920s and 1930s — the diamond was first set into a bracelet by Chaumet in 1923. A decade later, Mauboussin transformed it into a necklace worn by the Maharani, immortalised in a striking portrait by Bernard Boutet de Monvel.

In 1947, the diamond was acquired by none other than Harry Winston, who later sold it as a brooch to the Maharaja of Baroda. After years of being held privately, The Golconda Blue is now returning to the public eye for the first time in decades.

Rahul Kadakia, Christie’s international head of jewellery, called it “a once-in-a-lifetime opportunity,” noting the auction house’s long history with legendary Golconda diamonds such as the Archduke Joseph, the Princie, and the Wittelsbach.

The term Golconda itself refers to the legendary diamond mines of Eastern India, famous for producing some of the world’s most luminous, transparent, and pure gems. Among them are historic stones like the Koh-i-Noor, the Hope Diamond, and the Darya-i-Nur — and now, The Golconda Blue joins this rarefied list.

This sale is not just about a diamond. It’s about history, heritage, and the timeless allure of one of nature’s most breathtaking creations.

Russia Partners with Belarus

Alexei Vladimirovich Moiseev - Russian Deputy Minister of Finance — *Alexei Vladimirovich Moiseev – Deputy Minister of Finance*

Russia is joining forces with its ally Belarus to promote jewelry exports to China, the UAE, Vietnam, and Southeast Asia, in response to G7 sanctions.

The collaboration was agreed last Friday (4 April) after Russia’s deputy finance minister Alexei Moiseyev (pictured) met Belarus’s finance minister Yury Seliverstov in the Belarus capital, Minsk.

Both sides discussed further developing e-commerce in jewelry made in Belarus and Russia, as well as the mutual recognition of state standard marks.

The two countries are close trade partners and Belarus has been sanctioned for supporting Russia’s invasion of Ukraine.

“A marketplace for the sale of Belarusian and Russian jewelry on foreign markets is planned to be launched in test mode this year, Moiseyev said, according to BelTA, Belarus’s state news agency.

He said the Eurasian Development Bank, founded jointly by Russia and Kazakhstan, was taking part in the collaboration.

Source: IDEX